Arihant Foundations Executes Land Purchase Agreement for Rs. 561 Crores
Filing Summary
Arihant Foundations & Housing Ltd, in partnership with Prestige Estates Projects Ltd, has executed an Agreement with Sundaram-Clayton Ltd for the acquisition of 16.381 acres of freehold land in Chennai. The transaction, valued at Rs. 561 Crores, includes an advance payment of Rs. 25 Crores. The completion is expected by 11th February 2026, subject to conditions precedent. The seller, Sundaram-Clayton, is not part of the promoter group. This transaction does not constitute a related party transaction or fall within a scheme of arrangement.
Arihant Foundations & Housing Ltd, in collaboration with Prestige Estates Projects Ltd, has entered into an Agreement to Sell on 08th January 2026 with Sundaram-Clayton Ltd. The agreement pertains to the purchase of freehold land measuring 16.381 acres located at Korattur Village, Ambattur Taluk, Chennai District, Tamil Nadu.
The transaction is valued at Rs. 561 Crores. An advance payment of Rs. 25 Crores has been made, with the remaining balance of Rs. 535.67 Crores to be settled upon the execution of the Sale Deed. The completion of this transaction is anticipated on or before 11th February 2026, contingent upon the fulfillment of conditions precedent agreed between the parties involved.
The seller, Sundaram-Clayton Ltd, is a listed company incorporated under the Companies Act, 2013. It does not belong to the promoter or promoter group of Arihant Foundations & Housing Ltd. The transaction is not categorized as a related party transaction and does not fall within any scheme of arrangement.
Prestige Estates Projects Ltd is a prominent real estate developer engaged in residential, commercial, retail, and hospitality projects. The company focuses on expanding its footprint across various regions, leveraging strategic partnerships to enhance its project portfolio.
Arihant Foundations & Housing Ltd is engaged in the development of residential and commercial properties. The company prioritizes strategic land acquisitions to expand its project offerings and enhance its market presence in the real estate sector.